Stock-based Compensation and Other Stock Plans (Tables)

12 Months Ended

Dec. 30, 2017

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of stock options granted during 2017, 2016 and 2015, using the Black-Scholes valuation model:

	2017		2016		2015
Expected term of option (in years)		5.15		5.05		4.76
Expected volatility factor		22.01%		22.17%		24.13%
Expected dividend yield		1.63%		1.77%		2.04%
Risk-free interest rate		1.78%		1.04%		1.38%

Summary of Stock Option Activity

A summary of stock option activity during 2017 is presented below:

	Shares      (in thousands)		Exercise  Price per  Share*		Remaining    Contractual    Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at beginning of year		3,011	$	100.78
Granted		655		168.71
Exercised		(396)		86.29
Forfeited or expired		(72)		153.53
Outstanding at end of year		3,198		115.30		6.4	$	188.7
Exercisable at end of year		1,990		91.27		5.1		165.2

Nonvested Performance Shares [Member]

Summary of Changes in Non-Vested Performance Awards

Changes to the company’s non-vested performance awards in 2017 are as follows:

	Shares (in thousands)		Fair Value Price per Share*
Non-vested performance awards at beginning of year		207	$	141.94
Granted		77		168.70
Vested		(114)		144.61
Cancellations and other		(38)		159.80
Non-vested performance awards at end of year		132		149.93

* Weighted-average

Stock-Settled SARs [Member]

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of stock-settled SARs granted during 2017, 2016 and 2015, using the Black-Scholes valuation model:

	2017		2016		2015
Expected term of stock-settled SARs (in years)		3.99		4.03		4.72
Expected volatility factor		19.39%		20.09%		23.66%
Expected dividend yield		1.46%		1.66%		2.04%
Risk-free interest rate		1.55%		1.11%		1.50%

Summary of Changes in SARs

Changes to the company’s stock-settled SARs in 2017 are as follows:

	Stock-settled SARs       (in thousands)	Exercise  Price per  Share*		Remaining    Contractual    Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at beginning of year	303	$	125.38
Granted	100		168.73
Exercised	(13)		103.16
Forfeited or expired	(30)		121.53
Outstanding at end of year	360		138.63		7.6	$	12.8
Exercisable at end of year	165		119.46		6.6		9.1

* Weighted-average

Cash-Settled Stock Appreciation Rights [Member]

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during 2017, 2016 and 2015, using the Black-Scholes valuation model:

	2017		2016		2015
Expected term of cash-settled SARs (in years)		3.09		3.11		3.10
Expected volatility factor		19.93%		19.53%		18.14%
Expected dividend yield		1.59%		1.56%		1.69%
Risk-free interest rate		1.98%		1.47%		1.31%

Summary of Changes in SARs

Changes to the company’s non-vested cash-settled SARs in 2017 are as follows:

	Cash-settled SARs       (in thousands)	Fair Value  Price per  Share*
Non-vested cash-settled SARs at beginning of year	7	$	40.83
Granted	1		26.36
Vested	(3)		46.16
Non-vested cash-settled SARs at end of year	5		35.41

* Weighted-average